Saturday, April 20News That Matters

Man Industries up 17% on Rs 700 crore order


Shares of Man Industries surged nearly 17 %  intraday after the company announced it has bagged orders worth Rs 700 crore from domestic and international customers for supply of large diameter pipes for oil & gas as well as water sector projects.

The company’s order book including the above orders stands at Rs 1,200 crore, the company said in a filing to stock exchanges.

Man Industries has outstanding bids over $1 billion at various stages of evaluation for several other oil, gas and water projects in India and abroad.

MAN Industries (India) is the flagship company of Man Group. The main business line of Man Industries includes manufacturing & coating of large diameter carbon steel pipes and real estate.

MAN Industries (India)’s consolidated net profit dropped 84.3% to Rs 2.41 crore on 28.4% decline in net sales to Rs 299.62 crore in Q3 December 2013 over Q3 December 2012.

 The stock hit a high of Rs 76 and a low of Rs 66.40 so far during the day. The stock hit a 52-week high of Rs 110.50 on 10 July 2013. The stock hit a 52-week low of Rs 51.10 on 4 December 2013.

The small-cap company has an equity capital of Rs 28.55 crore. Face value per share is Rs 5.

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